As some of you may or may not know but music is a huge part of my life. I am a double major in Management and French but also am obtaining a music minor. Not only that, but I play piano, guitar, DJ events on and off of campus and make my own mashup music as well.
For my White Paper, I’ve really been looking forward to diving deeper into the issues of either royalties or copyright infringement within the music industry or possibly even both of them. I was having trouble finding any think tanks pertaining to the music industry from the resources given in Jordi’s post, but then I took his suggested and literally googled “music think thank”. Low and behold, the first link was to a website called Music Think Tank.
Within the think tank I was able to find an article/post discussing music royalties in regards to startup music companies. If you’re not aware, the music industry can get extremely greedy (in my opinion) when it comes to music royalties as they try to suck as much money from every possible source. This includes music startup companies.
Having interned for a started music company this summer called Mixify, I know for a fact that royalties are always something to worry about for startups and that if they don’t play their cards right, they could end up getting crushed by major music corporations. It’s extremely difficult to grow a startup company in the music industry when a main worry is usually figuring out how to pay all of the royalties to the major record labels.
This specific article suggested that to improve innovation and growth within the industry, startup companies should be exempt from royalty or copyright payments for a certain amount of time (1-2 years) so that they can get on their feet. If after that allotted time they have proved that they can sustain themselves as a company, then they’ll start paying those fees.
I thought it was an extremely bright idea and I’ll definitely be using this think tank to further my research into this topic for my white paper.